Overview
What is Lyon Mountain Housing Development Fund Co Inc?
Lyon Mountain Housing Development Fund Co Inc is a nonprofit organization situated in Lyon Mountain, New York. Their primary focus is the operation and maintenance of an 18-unit senior citizens housing complex, primarily catering to low-income elderly residents. The organization manages an apartment building constructed with assistance from the Federal Housing Administration (FHMA) loans and subsidized interest rates. This community housing provides a safe and affordable living space for senior citizens and disabled individuals, ensuring their well-being and independence.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Star rating)
Lyon Mountain Housing Development Fund Co Inc has achieved a solid Three-Star rating from Charity Navigator, reflecting a strong emphasis on accountability and finance. The overall score is based entirely on the organization’s accountability and finance metrics, which indicate a commendable level of transparency and responsible fiscal management.
The organization boasts a fully independent board, with all ten members meeting independence criteria. This structure, combined with a significant program expense ratio of 76.12%, suggests that a large portion of their resources is directed towards fulfilling their mission. Additionally, the charity has no material diversion of assets and has well-established policies regarding conflicts of interest and document retention.
However, while the scores are positive, the rating is solely based on financial accountability, with no additional insights into the charity's programmatic impact or community engagement revealed in the data. This limited perspective might leave potential donors wanting more information on the effectiveness of the programs being offered.
This AI summary has been generated from information found on Charity Navigator.
Is Lyon Mountain Housing Development Fund Co Inc legitimate?
Lyon Mountain Housing Development Fund Co Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lyon Mountain Housing Development Fund Co Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $19,827
For more financial information, click here
What is the mission statement of Lyon Mountain Housing Development Fund Co Inc?
Lyon Mountain Housing Development Fund Co Inc's mission is centered around maintaining an 18-unit housing complex specifically designed for senior citizens and individuals with disabilities. The organization constructs and operates this facility using Federal Housing and Urban Development (FHMA) loans and subsidized interest rates to keep the living expenses affordable. The primary objective of Lyon Mountain Housing Development Fund Co Inc is to provide a secure and comfortable living environment for its residents, ensuring they have access to essential housing needs. The organization's activities include overseeing the operation and maintenance of the complex, ensuring it remains in good condition and continues to serve its intended purpose.
Who is the CEO of Lyon Mountain Housing Development Fund Co Inc?
Jean Leclair is the President of Lyon Mountain Housing Development Fund Co Inc.
What is the revenue of Lyon Mountain Housing Development Fund Co Inc?
Lyon Mountain Housing Development Fund Co Inc's revenue in 2020 was $94,713.
Who are the executives of Lyon Mountain Housing Development Fund Co Inc and what are their salaries?
Here are 9 key members and their salaries:
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Where can I find the form 990 for Lyon Mountain Housing Development Fund Co Inc?
Lyon Mountain Housing Development Fund Co Inc's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of Lyon Mountain Housing Development Fund Co Inc
Lyon Mountain Housing Development Fund Co Inc is dedicated to providing affordable housing for senior citizens and individuals with disabilities. Established with loans from the Federal Housing and Mortgage Administration (FMHA), the organization manages an 18-unit apartment building, offering subsidized interest rates to its residents. The mission of Lyon Mountain Housing Development Fund Co Inc is to ensure that these vulnerable groups have access to safe, comfortable living spaces, thereby promoting their overall well-being and independence. The organization's focus on low-income seniors and disabled individuals underscores its commitment to social equity and community support, ensuring that these groups have access to essential housing resources.
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Impact
October, 2024
Lyon Mountain Housing Development Fund Co Inc plays a crucial role in providing affordable housing for senior citizens and disabled individuals in Lyon Mountain, NY. By maintaining an 18-unit apartment building specifically designed for low-income residents, it addresses significant housing challenges faced by vulnerable populations. The organization ensures that these individuals have access to safe and stable living conditions, which can greatly enhance their quality of life.
The impact of this development extends beyond just housing; it fosters a sense of community among residents, providing them with a support network. The building's maintenance through FMHA loans and subsidized interest allows for ongoing affordability, ensuring that financial constraints do not force residents into precarious living situations. Overall, Lyon Mountain Housing Development Fund Co Inc serves as a vital resource for enhancing the well-being and dignity of those it supports.
This information is meant to be a general summary of Lyon Mountain Housing Development Fund Co Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2020.
- Investment Income: $19
- Program Service Revenue: $93,239
- Gross Receipts: $94,713
Assets and Liabilities:
- Total Assets: $471,336
- Total Liabilities: $9,695
- Net Assets: $461,641
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$93,239
Organization Details
Founding Year
1988
Phone
(518) 735-4669Principal Officer
Jean Leclair
Main Address
3921 ROUTE 374 PO BOX 20, LYON MOUNTAIN, NY, 12952
NTEE Category
Code: L20J - Housing
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